REAL ESTATE JOINT VENTURES - COMPANION FILES
julianrsterling.com/jv

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Revised 23 September 2026.

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WHAT IS IN THE ARCHIVE

1. The book's four workbooks, corrected
   JV_Waterfall_and_Promote.xlsx                 Chapters 9, 10, Appendix C; now also 6, 12, 13, 17, 20-22
   The_Complete_Venture.xlsx                     Chapter 23
   Failure_to_Fund_Clawback_and_Removal.xlsx     Chapters 7, 8, 11 and 19
   Term_Sheet_Checklist_and_Diligence.xlsx       Appendices B, D and E
   00_START_HERE.md                              what changed is at the end
   Each numeric workbook closes on a checks sheet that ends ALL OK.

2. Blank_Model_Set/  (new)
   The four workbooks with every input emptied, for your own venture. Each
   checks sheet counts what is still missing and tests what holds for any
   inputs. The book's figures are in book_inputs.txt: type them back in and
   the book's results come back.

3. Working_Documents.pdf  (new)
   Thirteen printable pages: the term sheet read for what it decides, the
   term sheet checklist (two pages), the timetable and conditions precedent,
   sources and uses with the capital call and the overrun, the remedy model,
   the waterfall definitions and model tests, interim promote and the
   clawback, every payment to the sponsor, major decisions, removal and the
   morning after, the quarterly report and distribution notice, and
   diligence on your partner. A4, fits Letter.

4. Forty_Questions.xlsx  (new)
   Forty questions across the book, marked by the file as you type.

5. Cases/  (new)
   Case_1_The_Lookback_Measured_Two_Ways.xlsx    Chapter 11
   Case_2_Preferred_Equity_In_The_Stack.xlsx     Chapter 6
   Case_3_The_Offset_Shaped_Backwards.xlsx       Chapter 12
   Each case: the note on the first sheet, the model after it, checks at the end.

The files open in Excel, LibreOffice Calc, Google Sheets and Numbers. No macros.
